Why You Shouldn't Buy Videos From Other Traders

If like me, you are just starting out and want to get in on things as soon as possible, it can be tempting to buy into a video pack, especially when you feel things are going against you. But this process may have a negative impact on how quickly you can learn to trade. So before you hit that buy button, put away the credit card, because here's why you shouldn't do it:


The Current Meta


When it comes to market behaviour and order flow, there are multiple things you need to grasp, one of them is the not so oft talked about Meta. If you've played MOBA's like LOL then you'll know what I mean by The Current Meta. If you haven't then i'll do my best to explain.


Firstly its important to view the markets as a place where for every winner, there's a loser. This is important because winners will have an edge and a strategy, the losers will also have an edge and a strategy. The 'current' Meta is how these strategies interact with each other. As the losers change their strategy, the winners strategy becomes less and less effective, until the winners' strategy is now a losing strategy (assuming they haven't adapted) and the losers strategy is now a winning strategy (because they have adapted). The 'current' Meta is now different, strategies that worked before, are now less effective or don't work atall in the current Meta.

If you buy a video pack that's several years old, it will have been tried and tested for a previous Meta, while it -may- work for the current Meta, there's a good chance it wont.

Learn From Experience



While learning the theory is great, there's nothing that beats experiencing these things yourself. I believe places like Geeks Toy and multiple great blogs have enough information in them for you to learn the theory behind trading. But the experience of both good and bad is something you must do yourself, you must not try to avoid the pain and only seek the good. The painful experience of making mistakes will help you to focus and become a better trader. Video packs and paid tutorials may take this learned experience away from you. Being told how to do something is not the same as learning how to do it.

Videos Are of How Those Traders Did it

I guess this is a conglomeration of what I've been talking about above, how you trade will depend on who you are as a person. Some people are impatient and will go for a high win rate with a low win loss ratio. Others are happy to see their bank slope upwards and may go for a lower win rate with a high win:loss ratio. Your trading preferences and how you trade will be greatly affected by your personality. The videos and training packs, they just wont account for that and therefore they may not work or be as effective for you.

You Will Not Grow Psychologically


This is an important part of being a trader. It plays on the idea of learning from experience. The psychological aspects of trading can only be matured and improved upon through your own personal experiences, both good and bad. This will shape you as a trader and allow you to accept losses as well as wins.

Comments

Popular Posts